Alphabet to buy Intersect Power to bypass energy grid bottlenecks

Google parent Alphabet has agreed to buy Intersect Power, a data center and clean energy developer, for $4.75 billion in cash, plus the assumption of the company’s debt.

The acquisition, which was announced Monday, will help Alphabet expand its power-generation capacity alongside new data centers without having to rely on local utilities that are struggling to keep up with the demand of AI companies. Securing access to energy that powers data centers has become a critical part of training AI models.